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The 5 minute TF S&R trading system

  • #1,881
  • Jan 30, 2013 7:28am Jan 30, 2013 7:28am
Quoting snail69
Adam, let me answer that. It is done by placing pending order at the price of the last top, in this case. So entry is not when but where.
Thanks Snail69
WARNING: Don't follow me as I'm just learning
  • #1,882
  • Jan 30, 2013 9:30am Jan 30, 2013 9:30am
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd5Min30Jan13.GIF Size: 23 KB
Become the casino
  • #1,883
  • Jan 30, 2013 9:54am Jan 30, 2013 9:54am
Quoting erasmus66
Attachment
At BE now
  • #1,884
  • Jan 30, 2013 10:01am Jan 30, 2013 10:01am
Target has now been hit
  • #1,885
  • Jan 30, 2013 10:01am Jan 30, 2013 10:01am
Quoting Good Lookin
At BE now
profit
  • #1,886
  • Jan 30, 2013 10:06am Jan 30, 2013 10:06am
Cant believe this tough month with this win i am at 19% never thought i would get this much with so little
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif.gif Size: 18 KB
  • #1,887
  • Jan 30, 2013 10:08am Jan 30, 2013 10:08am
well done guys - good trading!
Become the casino
  • #1,888
  • Jan 30, 2013 10:09am Jan 30, 2013 10:09am
looks like it didnt matter whether you got in at 56 57 or 59 all winning entries
  • #1,889
  • Jan 30, 2013 10:20am Jan 30, 2013 10:20am
Quoting fxpivots
Cant believe this tough month with this win i am at 19% never thought i would get this much with so little
Consistancy. Thats all this game is about.
  • #1,890
  • Jan 30, 2013 10:20am Jan 30, 2013 10:20am
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd5Min18Nov11.GIF Size: 32 KB
Become the casino
  • #1,891
  • Jan 30, 2013 10:21am Jan 30, 2013 10:21am
Heres the thing about trading its all about accumilating money and managing the trade. heres a run downs of trades i took this month had a 1 % loss 1% win 2% win 2% win 3 B E trades 5 3% wins totaling 19% and this was a crap month win 1 week of no trading because of new year. Managing trades and accumilating money to reach goal of 15 - 20% a month this is what it takes to make it in forex otherwise you will be a casualty.A method is important like Good Looking incorporates S and D trades but i am sure he still follows the above principles of M & A to achieve the goal
  • #1,892
  • Jan 30, 2013 10:25am Jan 30, 2013 10:25am
its tough to tell erasmus unless i see whole chart but at a clance it looks like a 2b from first high to second it doesnt look like i could hit target
  • #1,893
  • Jan 30, 2013 10:29am Jan 30, 2013 10:29am
Quoting erasmus66
Attachment
this is chart you showed me
  • #1,894
  • Jan 30, 2013 11:05am Jan 30, 2013 11:05am
Quoting fxpivots
Heres the thing about trading its all about accumilating money and managing the trade. heres a run downs of trades i took this month had a 1 % loss 1% win 2% win 2% win 3 B E trades 5 3% wins totaling 19% and this was a crap month win 1 week of no trading because of new year. Managing trades and accumilating money to reach goal of 15 - 20% a month this is what it takes to make it in forex otherwise you will be a casualty.A method is important like Good Looking incorporates S and D trades but i am sure he still follows the above principles of M &...
I think the important thing to remember here is that you don't need to hit home runs to win in this game. You can do it that way but you don't need to. Consistantly trading my method and capturing small percentages is the key to the way i trade. Just by looking at FX pivots run down you can see that not even he is hitting 3% on every win. Some trades hit BE, some trades hit less. Goal is just to be positive at the end of the cycle.

Even with some of the smaller sd trades i've shown you can see that i'm just hitting it for a couple of pips at a time and i'm only infront of the screen for 2-4 hours. Now a days, when i trade SD zones i'm not even concerned with a static TP. As long as the setup shows a high probability of moving in my chosen direction then i'll take it. For instance, as i'm writing this i'm in a trade, at 11:30 i took a short at 35727 and just closed it at 35620 at 11:59. Taking in some profits slowly over time. Very similair from working a job and accumulating $100 - $500 a day. Only difference is my work day is about 2-4 hours a day and i don't work every day.
  • #1,895
  • Jan 30, 2013 9:29pm Jan 30, 2013 9:29pm
ok erasmus i just downloaded more data to analyse nov 18 2011. What we see is a very large move up the pullbacks will be larger when this happens so i would wait for conformation that trend will continue or reverse. so when it goes up higher there would have been room to hit target but there was extreme divergence and what i mean by that is left side 88 right side 80. I only look at divergence in extreme conditions when the market if moving very fast and long. So by waiting we see if price will break the 2 point of the 2 B and it did with 2 closing prices below point 2. So entry would be 742 now price did get to 881 but in 2011 oandas spread was 09 so stop would be 892 and if you add 09 to high of 881 you have 89 so by 2 pipettes you would still be in trade and it goes on to win
Attached Image (click to enlarge)
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  • #1,896
  • Jan 31, 2013 5:18am Jan 31, 2013 5:18am
many thanks for break down fx - much appreciated
Become the casino
  • #1,897
  • Jan 31, 2013 5:59am Jan 31, 2013 5:59am
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd5Min15Apr11.GIF Size: 47 KB
Become the casino
  • #1,898
  • Jan 31, 2013 7:44am Jan 31, 2013 7:44am
Small range today 40 pips
  • #1,899
  • Jan 31, 2013 8:16am Jan 31, 2013 8:16am
Quoting fxpivots
ok erasmus i just downloaded more data to analyse nov 18 2011. What we see is a very large move up the pullbacks will be larger when this happens so i would wait for conformation that trend will continue or reverse. so when it goes up higher there would have been room to hit target but there was extreme divergence and what i mean by that is left side 88 right side 80. I only look at divergence in extreme conditions when the market if moving very fast and long. So by waiting we see if price will break the 2 point of the 2 B and it did with 2 closing...

i often have trouble spotting 123.

for exampe you could see a 123 say from bottom to top then back down again. but what if in the same triangle there is a 123 from top bottom then up again ? i.e. 2 opposite 123 's in the same triangle. which one is valid ?

how do you distnguish the proper 123 ?
  • #1,900
  • Jan 31, 2013 8:46am Jan 31, 2013 8:46am
Loiks like 64 s long area
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